MANILA - The uncertainties facing Asia and the Pacific are also an opportunity to build a more resilient and sustainable future, said Asian Development Bank (ADB) President Masato Kanda at the opening of the ADB's 58th annual meeting of the Board of Governors in Milan, Italy on Monday.

"External shocks, debt burdens, and climate change weigh heavily on the people and economies of the region. But we are not starting from zero. Growth remains solid, trade and economic integration are deepening, supply chains are diversifying, and digital connectivity and innovation are accelerating," Kanda said.

"Uncertainty is not a reason for retreat," he said, adding, "It is a call to be bolder, to move faster, and to work more closely than ever before."

More than 5,000 participants joined the yearly meeting in Milan, which consisted of representatives of governments, the private sector, civil society, and academia.

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This year's meeting highlights four focus areas central to driving transformational change across Asia and the Pacific.

First, to address the vulnerability of the region's food systems, the ADB will scale up financing for food systems transformation to $40 billion by 2030.

Second, the ADB invests in digital technologies to improve access to education, finance, and markets.

Third, the ADB is investing in modernizing and connecting energy systems, including readiness to commit up to 10 billion dollars to support work on the ASEAN Power Grid.

Fourth, the ADB is deepening investments to build resilience by strengthening infrastructure, restoring and protecting ecosystems, and helping vulnerable communities adapt to the impacts of climate change.

The ADB also reaffirmed its commitment to scale up private sector development, aiming to increase private sector financing fourfold to 13 billion dollars annually by 2030.